UPDATE|General Motors on the Brink of Bankruptcy

An Update To The May 31st Alert.. As General Motors teetered on the brink of bankruptcy, President Barack Obama planned to address the nation to discuss the Chapter 11 filing, which the automaker is expected to make sometime tomorrow, two officials close to the talks told CNN. Bankruptcy loomed for the company that had reached an agreement with bondholders to a sweetened deal during 11th-hour negotiations last week -- but it was not enough to prevent the ailing auto giant from heading on a ...

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YouTube | May 31, 2009

Tags:. .bondholders. .teetered. .bankruptcy. .automaker. .sweetened